March 28, 2018 / 9:21 AM / a year ago

China's Anbang says has ample cash flow, operations stable

BEIJING, March 28 (Reuters) - China’s Anbang Insurance Group Co Ltd said on Wednesday that it had ample cash flow and operations were stable following its takeover by Bejing.

Anbang said in a statement that its former chairman, Wu Xiaohui, was under trial for personal economic crimes and that he has already been removed from the company’s management.

Wu contested all charges against him in a high-profile trial that began in Shanghai on Wednesday, adding he was unaware whether his activities had violated the law. (Reporting by Beijing Monitoring Desk; Editing by Himani Sarkar)

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